Bonus calculation

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Rem (Querist)
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04 September 2013 If I am receiving Salary(Basic+DA) of Rs.9000 p.m. and worked for 7 months in the accounting year, what will be my Bonus. How it will be calculated.

CA Pallav Singhania

CA Pallav Singhania (Expert)
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04 September 2013 BONUS CALCULATION PARAMETERS

CASE 1 BASIC LESS THAN EQUAL TO 3500 = BONUS=ACTUAL BASIC X (BONUS MONTHS) X 8.33%

CASE 2 BASIC MORE THAN 3500 UPTO 8400 = BONUS=Rs. 3500 X (BONUS MONTHS) X 8.33%, EXGRATIA=0

CASE 3 BASIC MORE THAN 8400 & LESS THAN 10000 = BONUS=Rs. 3500 X (BONUS MONTHS) X 8.33%, EXGRATIA= BASIC SALARY-8400

CASE 4 BASIC MORE THAN 10000 = BONUS = 0, EXGRATIA= 1 MONTH BASIC SALARY